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The new European Energy Efficiency Facility to finance sustainable energy at the local and regional level

On 13 April 2011, the European Commission and European Investment Bank (EIB) launched the new “European Energy Efficiency Facility” (EEE-F), which will provide an investment fund and technical assistance for local sustainable energy projects.

The new facility will take the form of an investment fund complemented by technical assistance (TA) and awareness raising. The EU will contribute about EUR 146 million to the facility, the European Investment Bank will invest up to EUR 75 million, resulting in an initial fund volume of at least EUR 200 million. Other financial institutions at Member State level have been invited and could also join the fund. The objective is to launch the facility in the second quarter of 2011. 85% of the facility will be used to fund investment projects and around €20 million will be made available as grants for technical assistance.